November 21, 2016 – Bob Horvath and Todd Tremblay and Peter Butler, of Horvath & Tremblay, have successfully completed the sale of the leasehold interest of TD Bank located in Norwood, Massachusetts. Horvath & Tremblay exclusively represented the seller and procured the buyer to close the property at a sale price of $1,906,140.

The TD Bank lease-hold interest has over 18 years of remaining base term and (4) five year options. TD Bank signed the original twenty-year ground lease in November 2012 which includes (4) five year options with rental escalations of ten percent (10%) scheduled to occur every five years throughout the base term and the options. The new 2,550-square foot construction will be fully leased to TD Bank with positioning at the signalized corner of Nahatan Street and Lennox Street on a 0.68 acre parcel. This TD Bank branch will offer customers the convenience of a double drive-thru and a drive-up ATM. The property is located adjacent to a free standing Dunkin Donuts and across the street from Norwood Plaza, a 106,117-square foot shopping center anchored by Shaw’s, CVS, and TJ Maxx. Additional tenants in the center include: Papa Gino’s, Bank of America, Citizens Bank, T-Mobile, and For Eyes. This bank branch is strategically located within a densely populated area of over 122,000 people within a five mile radius.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.